A feature Commentary by David Weidner, as he goes on to explain why gold never truly loses it's value and to buy on gold price dips (like today). The dollar is becoming worthless and anyone left only possessing dollars will be in trouble down the road.
April 26, 2011, 12:00 a.m. EDT
By David Weidner
NEW YORK (MarketWatch) — Buy gold.
There’s no risk. It never loses value. Except in 1915-20, 1941, 1947, 1951-66, 1974-76 1981, 1983-85 1987-2000 and 2008. In inflation-adjusted dollars, gold cost $4,000 an ounce 30 years ago. Inflation is for dollars.
The world is a mess. We’ve never seen a time like this: the Middle East and North Africa are in upheaval. Japan has been battered by atomic energy. The U.S. economy is sluggish. The Book of Revelation was a picnic compared to modern times.
Your dollars are worthless. You can’t buy a flat-screen TV with them. You can’t send your kids to college with them. Money can’t buy you love or happiness, put food on your table, pay for a trip to see the grand kids, put gas in your tank or pay the bills.
The Federal Reserve is printing money like Amazon prints books. Money is everywhere and it’s worthless. Everyone is knee-deep in cash. Line your birdcages with it. Use it for toilet paper. The Fed will give you more. The dollar is so cheap it went on sale at Groupon and no one signed up. The deal is off. They can’t give money away.
Buy gold GLD +0.34% .
Because the U.S. economy is finished. We don’t innovate. We don’t make anything. General Motors Co. GM +0.03% revival? Smoke and mirrors. Software? Who uses that? Biotechnology? No one’s interested in living longer in these times. Health-care stocks? Technology stocks? Bank stocks?
Our central bank has pumped $600 billion in dollars into the economy. That’s $2,000 for every person in the United States. Talk about worthless, you can’t even buy a couple of ounces of gold for that.
Homes are so 2006. U.S. housing prices continue to fall. They’ll never come back. People don’t like roofs and plumbing and a garage for their GM cars. Houses are for flipping. Gold is forever. Rent an apartment, put your gold on the floor and stare at it. It will keep you warm.
We’ve been out-Chinese-ed, out-German-ed and India-ed. Those economies are the envy of the world. Chinese banks haven’t made any bad loans and it’s a Shanghai-La as long as you can live on $6,000 a year and aren’t one of the billions of people who can’t speak or move about freely. And talk about opportunity: Who wouldn’t want their 10-year-olds working in a factory stripping copper from old computer monitors? Everyone works.
And how about the Germans. Germany’s export boom will go on infinitely even as the euro rises. The Germans are so rich, they’re bailing out the rest of Europe even though their own debt-to-GDP is 79%.
India is the best place in the world to do business, except for the overcrowding, corruption, dependence on agriculture, and the fact that 25% of its people are below the poverty line. India is running double-digit inflation and has a infant-mortality rate higher than Zimbabwe, Mongolia, North Korea and Namibia. Sad, but it means more farm jobs for the living.
It’s the only thing that will be valuable when the New World Order shows itself. Right now, the Illuminati, Trilateral Commission and the Freemasons are planning for the end and they won’t be satisfied until they have world. domination or a better public relations firm.
Because you’re a patriot. Gold hires people. It takes a chance on an idea. It believes that, for all of our politicians and corporate missteps, we have a dynamic country that can compete with anyone. Gold makes a statement. It says “I think the American people work as hard and are as resourceful as anyone on the planet,” and then adds “but for now, I’m just going to hide out in this bunker and eat Spam until someone else has the guts to create a new business with a great idea and gives me a job.”
Gold looks good and does nothing. And isn’t that how it should be? Look at all these people trying to “do” something: putting out fires, doing our taxes, teaching our kids, giving us check-ups, taking care of our elderly, serving us our meals, reporting the news, constructing casinos, delivering our packages, building our roads, making solar panels — what a bunch of morons. They should be buying gold!
Those idiots will know who’s boss when the economy comes crashing down and we’re left in a total state of anarchy. You can imagine the scene: busted businesses, poverty everywhere, road signs in Chinese. They’ll be the ones working for yuan and euros to pay for their government homes and the rest of us will be standing on top laughing at them. We were the ones who saw it coming, loaded up on guns and Oreos, and put our money to good use. Look who’s laughing at our ruined society now. Ha! We were smart enough to heed the words.
David Weidner covers Wall Street for MarketWatch.
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